Commodity Market Report
India coal short-term outlook January 2021: can V-shaped demand recovery be sustained?
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
India has seen a V-shaped recovery in most of the industrial sectors since H2 2020. Thermal power generation and crude steel production not only improved in H2 versus H1, but also year-on-year. The Union budget announced by the Indian government for fiscal year 2021-22 is expected to provide further upside to demand. With economic momentum building up, both thermal and metallurgical coal demand will be higher in 2021 leading to a recovery in import levels. We expect firm power and steel demand in Q1 2021, with the remainder of the year supported by a strong economic outlook.
Table of contents
- Domestic spot prices gained momentum supported by firm seaborne prices
- Firm recovery in thermal coal demand
- Strong steel demand outlook will drive metallurgical coal demand
- Despite higher stocks, domestic coal production recouping
Tables and charts
This report includes the following images and tables:
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CIL performance in the spot marketCFR India prices of imported coalKey thermal prices: history/forecast, nominal US$/t
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Key met prices: history/ forecast, nominal US$/tMonthly coal-fired generationDomestic coal stocks at power plantsMonthly hot metal and steel productionImported coal stocks at power plantsCIL raw coal productionCIL coal despatchesSeaborne thermal imports by origin
What's included
This report contains:
